Offshore wind could propel post-pandemic US economy

Economic activity generated by offshore wind development could provide a massive boost to the US post-pandemic economy, amounting to US$25Bn annually before 2030.

Led by commitments of 9 GW in New York and 7.5 GW in New Jersey, states from Massachusetts to North Carolina along the US east coast have been solidly behind the development of offshore wind. Other opportunities for floating wind in California are also moving forward.

Speaking at the IPF Virtual conference on offshore wind in April, Bureau of Ocean Energy Management (BOEM) renewable energy programme manager Jim Bennett said that the 16 commercial leases issued by BOEM, in combination with aggressive renewable energy goals by states and offtake deals, have created “a tremendous market opportunity”. Mr Bennett said BOEM is reviewing seven construction and operations plans and expects to receive another five before the end of the year.